Maduro Jails Analysts Who Reveal Venezuela’s Economic Decline
President Nicolás Maduro’s government has arrested at least eight economists and consultants in June 2025 for sharing data about Venezuela’s ongoing economic decline.
The most prominent detainee is Rodrigo Cabezas, a former finance minister. Some of those arrested were released after a few hours, but others remain in custody.
The government has not explained why Cabezas, detained in Maracaibo, is still being held or where he is now. These arrests come as Venezuela’s economy faces serious problems.
The country has not published regular and detailed economic data for years. The Central Bank stopped releasing many key figures in 2014 and only shares information irregularly.
This lack of transparency makes it hard for people, businesses, and investors to understand the true state of the economy. The economy has shrunk dramatically. Official figures show Venezuela’s economy contracted by 47% between 2015 and 2018.
Oil, the country’s main source of income, has suffered even more—oil GDP fell by over 44% in just three years. Oil export revenue dropped from $66.5 billion in 2013 to $29.8 billion in 2018. These figures are from the Central Bank and reflect a deep crisis.
Venezuela’s Economic Crisis Deepens Amid Data Crackdowns
Inflation remains extremely high. In 2023, consumer prices were rising at triple the rate of the previous year. The government’s own data is incomplete and released without detail, so many Venezuelans rely on independent groups for information.
One such group, the Venezuelan Financial Observatory, was created to publish missing statistics. However, the government has now targeted these groups, arresting those who share independent data.
Businesses and ordinary people depend on unofficial sources to track the real exchange rate and inflation. The official rate is often much lower than the black market rate, which reached 139 bolívares per dollar in May 2025, compared to the official rate of 104.
This gap makes it hard for companies to set prices and for people to protect their savings. The government blames outside forces and sanctions for the crisis, but experts and official data point to years of poor management, heavy debt, and overreliance on oil.
As a result, Venezuela faces food shortages, a collapsing currency, and one of the world’s largest refugee crises, with about seven million people leaving the country since 2015.
The crackdown on analysts and data sources signals that the government wants to control the narrative about the crisis. This makes it even harder for businesses and investors to make informed decisions.
Without reliable data, uncertainty grows, and economic recovery becomes more difficult. The arrests show that sharing the truth about Venezuela’s economy has become risky, but also more important than ever.
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This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error
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